One of the Key Characteristics of Oligopoly Is That

question 77

Multiple Choice

One of the key characteristics of oligopoly is that

• A)firms are independent of each other.
• B)firms face different cost conditions.
• C)each firm is aware that its actions will influence other firms and that the actions of the other firms affect it.
• D)it is easy to enter the industry.

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Definitions:

Business Communication

The sharing of information between people within and outside of an organization that is performed for the commercial benefit of the organization.

Culture

The shared values, beliefs, norms, and practices of a group of people that shape their behavior and understanding of the world.

Cultural Pluralism

A condition or society in which various cultural groups maintain their unique cultural identities while coexisting with one another within a larger society.

Cultural Pluralism

A condition in which smaller groups within a larger society maintain their unique cultural identities, and their values and practices are accepted by the wider culture.